King Dot Kong wants to set up an online share trading site but he needs investors to help him fund the venture. King Dot Kong wants investors to give him a digital currency (any kind) (he calls this part the CryptoBlasterInvesto) in return for a right to a share of profits (he calls the units of return CryptetDivs) from the new online share trading venture. King Dot Kong promises to use and pool (he calls Cryptpoodling) the CryptoBlasterInvesto exclusively for developing and implementing the share trading site (he calls this the CryptoEnterprise).

However, King Dot Kongsays that investors will not and won't be ableto control him or influence any decision he may make in relation to the CryptoEnterprise (he calls this the CryptoControlZero state).He doesn't want to be treated like a CryptoRobot!

You are interested in the CryptoEnterprise and give King Dot Kong some CryptoBlasterInvesto and in return King Dot Konggives you a certificate entitled 'TheKing Dot Kong CryptoCertificate'which entitles you to CryptetDivs, like all other investors.King Dot Kong'sCryptoEnterprisedoesn't go welland all investors lose their CryptoBlasterInvesto. It's not King Dot Kong'sfault.

1. a)Is the 'TheKing Dot Kong CryptoCertificate' a 'managed investment scheme'?(8 marks)
2. b)Does it need to be registered? (4 marks)
3. c)Is it a 'financial product'?(3 marks)

Justify your answer making specific reference to the provisions of Chapter 7 of the Corporations Act 2001.